According to this report, the Global Bio Refinery Products market accounted for $498.02 billion in 2017 and is expected to reach $1,110.9 billion by 2026 growing at a CAGR of 9.3% during the forecast period.

Growing concern for energy security, accessibility of low-cost raw materials and volatility in fossil fuel prices are some of the key driving factors for the market growth.

However, huge initial investment and minus availability of buyer and supplier are hindering the market growth. Moreover, increasing promotional activities for bio based products by biotechnologists and chemists is one of the major opportunity during the forecast period.

On basis of feedstock, green bio refineries segment witnessed considerable growth due to increase in generation of electricity and process heat, through CHP technology, for its own use.

By geography, North America acquired largest market share owing to its varied range of availability and being able to maintain an ecological balance.